Every time we talk about building a sportsbook brand, we always recommend that you start around this time of year. Why? Because the industry is not as busy as compared with other months. It may be a slow start for many, but its actually one of the safest. This gives you the opportunity to study your sportsbook, get used to the routing work a bookie does, and other skills that will help prepare you. Keeping track of trends is one such skill. And today, we will look at the Colorado Betting numbers for May.
As expected, the numbers for sports betting in Colorado dip in May. This is common, as there are less events to bet on. According to the Department of Revenue of Colorado, the total monthly handle for sports betting in the state is $385.2 million in May. This is 7.8% lower than the handle for April. In addition, this is the first time that the total monthly handle drops below the $400 million mark this year.
Colorado Betting Numbers
As mentioned earlier, this time of the year is usually a slow month for sports betting. Colorado tried, as there was a lot of action with the Denver Nuggets who were in the playoffs. But that was not enough to stave off the lack of betting options available to bettors. If we base it on the trends over the years, betting will start to pick up in August, but will not run full swing until around September.
So if you are noticing a similar trend in your sportsbook pay per head operation, then maybe it means that the calendar is causing the decline in your betting handle. And if that is the case, then you have a lot of options to catch up, like offering casino gaming as well.
Basketball was the most popular sport residents bet on, taking in a 32.2% share in the total handle, while baseball comes second. MLB betting will likely be the most dominant sport by the following month. And hopefully, by the time the next report comes in, operators hope that the numbers will be better. In the meantime, here are some gambling software reviews to help you find the best one for you.